You want to do your Christmas shopping a bit early, but your 13th month pay isn’t due until next month. Oh, and you have a credit card. That’s great.
But… you’ve always been prudent in the use of your card. And rightfully so, because the experts have told you to always exercise caution when it comes to charging your purchases. They’ve told you that the only valid reasons to use your credit card are emergency needs, fuel rebates, and high-priority expenses.
Wait, let’s look at that last one. High-priority expenses. Doesn’t Christmas shopping qualify?
Well sure, why not? After all, this only comes once a year, and it’s important that you let the people you care about know that you remembered them during the Holiday Season. So yes, it’s perfectly all right to charge your purchases this time of the year. You just have to be methodical about it.
Plan ahead. So you have yet to receive your 13th month pay, and whatever other yearend bonuses your employer will give you. Add to these your regular salary, and you know you’ll have a substantial amount of cash in your bank account by the time the next credit card bill rolls around. You just need to do some simple accounting, set your budget, and plan carefully.
Canvass. Set a day or two to browse around the shops. Do not buy yet. Make a list of the items you plan to purchase, and note down their prices. List as many as you want, even if you end up with more than you plan to buy. You may even opt to take pictures of the items with your smartphone (if the shops allow this). When you get home, decide which of these you can afford, and scratch the others from the list.
Hunt for bargains. As you do your browsing, you’ll no doubt encounter a lot of items on “Holiday sale.” Find out how much has been slashed off the original price. If it looks to you like a great deal, and it fits your budget, don’t let it pass. If it’s the last item in stock, and you’re afraid it might not be there anymore when you go back, you can ask the store clerk to reserve it for you. You’ll only have to shell out a small reservation fee, and it’s yours. Just be sure to ask for a receipt.
Study the installment plans. If you see an item that can be purchased on installments via credit card, ask about the options. Can you afford the three-month plan? Or would you have to go with the six-month plan? Yes, you’ll have a hefty bonus coming your way in a month or so, but after that month, will you be able to afford the following installments? As with all credit card purchases, it’s best to err on the side of caution.
Ask about bulk purchase deals. If you’re planning to give the same gift to 20+ officemates, ask the store clerk if they’re willing to give you a bulk-purchase discount. You’ll be surprised at how many of these small- and medium-sized establishments are perfectly willing to make such deals with their customers. It’s one of those things that shoppers don’t know about, simply because they don’t ask. So go ahead and inquire. After all, you’ve got nothing to lose.
Note that none of the above steps involves actual shopping. Well, didn’t we say you had to be methodical? Once you’ve done all that has to be done in preparation for the big shopping day, make your list, check it twice, and go out and shop. And yes, whip out the plastic.
